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In handing down the sentence yesterday, deputy judge Peter Hui Shiu-keung of the district court said that even if Ng did not post the messages, he cannot shirk responsibility as the owner and administrator of such a big group for allowing these messages that incite illegal behaviors to exist. “Hey degen, are you stressed? Just let it all out,” he wrote, along with a link to join the group. As the broader market downturn continues, yelling online has become the crypto trader’s latest coping mechanism after the rise of Goblintown Ethereum NFTs at the end of May and beginning of June, where holders made incoherent groaning sounds and role-played as urine-loving goblin creatures in late-night Twitter Spaces. Matt Hussey, editorial director of NEAR Protocol (and former editor-in-chief of Decrypt) responded to the news of the Telegram group with “#meIRL.” For crypto enthusiasts, there was the “gm” app, a self-described “meme app” which only allowed users to greet each other with “gm,” or “good morning,” a common acronym thrown around on Crypto Twitter and Discord. But the gm app was shut down back in September after a hacker reportedly gained access to user data.
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